Waterfall Asset Management Originates $19.5 Million Loan to Support Acquisition of Greenwich Village Retail Property

Waterfall Asset Management (RC) originated a $19.5 million loan on March 27, 2026 to finance Acram Group's acquisition of a 30,000-square-foot blockfront retail condominium at 156–168 Bleecker Street in Greenwich Village, Manhattan.

Rhea-AI Summary

Waterfall Asset Management (RC) originated a $19.5 million loan on March 27, 2026 to finance Acram Group's acquisition of a 30,000-square-foot blockfront retail condominium at 156–168 Bleecker Street in Greenwich Village, Manhattan.

The property is 79% leased with tenants including CVS and Le Poisson Rouge; Acram plans to use proceeds to reposition its portion of the landmarked building and offer leasing incentives to pursue full occupancy.

Positive

• $19.5 million commercial real estate loan originated
• 30,000 sq ft blockfront property in Greenwich Village
• 79% leased with anchor tenants CVS and Le Poisson Rouge
• Strengthened lender-borrower relationship with Acram Group

Negative

• 21% vacancy remains, requiring leasing effort
• Loan proceeds allocated to repositioning and leasing incentives, implying near-term capital deployment

Argus Mar 27 session

-5.00% close to close Open Argus

Details

News Market Reaction – RC

In the Mar 27 session, RC declined 5.00%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved -5.0% in the session following this news. A negative reaction despite this new $19.5...

Analysis

The stock moved -5.0% in the session following this news. A negative reaction despite this new $19.5 million loan would fit a pattern where transaction news has not always been rewarded, with acquisition-tagged headlines averaging about -0.11% over five events. The stock traded far below its $3.12 200-day MA and close to its 52-week low before this announcement, so broader concerns about credit quality or capital markets could overshadow incremental origination wins.

Key Figures

Loan size: $19.5 million Property size: 30,000 square feet Occupancy: 79% leased

Loan size

$19.5 million

Financing Acram Group’s retail condo acquisition

Property size

30,000 square feet

Blockfront retail condominium on Bleecker Street

Occupancy

79% leased

Greenwich Village retail property tenancy level

Previous Acquisition Reports

5 past events · Latest: Mar 13

Same Type 5 events

1. Mar 13

   Merger completion

   24h Move

   -1.0%

   Completion of UDF IV merger and integration into Ready Capital platform.

2. Feb 21

   Competing proposal

   24h Move

   -2.5%

   NexPoint challenges UDF IV–Ready Capital merger economics and urges delay.

3. Dec 02

   Merger agreement

   24h Move

   +2.7%

   Definitive agreement for Ready Capital to acquire UDF IV and expand equity base.

4. Jun 24

   Fintech acquisition

   24h Move

   -1.5%

   Deal for Funding Circle USA to bolster tech-enabled small-business lending.

5. Jun 11

   Loan platform deal

   24h Move

   +1.7%

   Acquisition of Madison One to grow USDA and SBA loan origination scale.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

asset-backed credit, whole loans, condominium

3 terms

asset-backed credit financial

"focused on specialty finance opportunities within asset-backed credit, whole loans, and real assets"

A financing arrangement in which a lender provides credit that is secured by a specific pool of underlying assets—such as loans, receivables, inventory, or property—so the lender can seize or collect those assets if the borrower defaults. For investors, asset-backed credit matters because the quality and liquidity of the pledged assets drive how risky the loan is and what yield it must offer; think of it as borrowing against a bundled set of collateral rather than just a single item.

whole loans financial

"focused on specialty finance opportunities within asset-backed credit, whole loans, and real assets"

Whole loans are complete debt contracts—such as a mortgage or commercial loan—that an investor or lender buys and holds on its own balance sheet rather than buying a share of many loans. They matter to investors because owning the whole loan gives you all the interest payments and the full risk of repayment, like owning a single rental property instead of a small share in a property fund, which affects expected yield, credit exposure and liquidity.

condominium technical

"acquisition of a 30,000-square-foot blockfront retail condominium property located at 156–168 Bleecker Street"

A condominium is a privately owned housing unit within a larger building or complex where each owner holds title to their individual unit while sharing ownership and upkeep of common areas like lobbies, pools and hallways. For investors, condos matter because their value and income potential depend on factors such as monthly maintenance fees, collective decisions by co-owners, rules set by the association and the building’s overall demand—similar to owning a boat in a marina where you own your boat but pay and decide together on the dock and amenities.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

NEW YORK, March 27, 2026 /PRNewswire/ -- Waterfall Asset Management ("Waterfall"), an alternative investment manager focused on specialty finance opportunities within asset-backed credit, whole loans, and real assets, announced that its clients, managed as part of its commercial real estate lending platform, have originated a $19.5 million loan to finance Acram Group's acquisition of a 30,000-square-foot blockfront retail condominium property located at 156–168 Bleecker Street in Manhattan's Greenwich Village.

Waterfall worked directly with Acram Group to source, structure and originate the financing, further strengthening the firm's ongoing relationship with the borrower.

"This investment is a reflection of the strong relationship we've built with Acram Group and its principals, a commitment we bring to all of our borrower partnerships," said Steven Shafer, Director on Waterfall's Contract Finance team. "We have great confidence in Acram's ability to execute its business plan, and we're proud to support its continued growth by providing a flexible and tailored capital solution."

The property, in one of Manhattan's most sought-after neighborhoods, is currently 79% leased with tenants including CVS and Le Poisson Rouge. The remaining vacancy presents an opportunity to attract flagship retail and premier food and beverage tenants seeking prominent frontage in a high-traffic corridor.

Acram Group plans to utilize the loan proceeds to reposition its portion of the landmarked building and implement strategic leasing incentives to drive the property toward full occupancy.

About Waterfall Asset Management

Waterfall Asset Management is an alternative investment manager focused on specialty finance opportunities within asset-backed credit, whole loans, and real assets. Founded in 2005, the firm utilizes a relative value approach for sourcing and investing in the private and public markets, across 60+ sectors of the asset-based finance arena. Through this multi-sector specialization, Waterfall seeks to provide its clients a compelling risk/return profile which is generally uncorrelated to most traditional investment opportunities. Waterfall is also the external manager to Ready Capital Corporation (NYSE: RC), a multi-strategy real estate finance company and small business lender. Waterfall is headquartered in New York City, with additional offices in London and Dublin. To learn more, please visit www.waterfallam.com.

Media Contact
Prosek Partners
Pro-waterfallpr@prosek.com 

View original content:https://www.prnewswire.com/news-releases/waterfall-asset-management-originates-19-5-million-loan-to-support-acquisition-of-greenwich-village-retail-property-302726882.html

SOURCE Waterfall Asset Management

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the key terms of Waterfall's $19.5 million loan for Acram Group (RC)?

The loan is a $19.5 million commercial real estate financing for an acquisition. According to the company, proceeds finance Acram Group's purchase of a 30,000-square-foot retail condominium at 156–168 Bleecker Street in Greenwich Village.

How leased is the Greenwich Village property financed by Waterfall (RC)?

The property is 79% leased at the time of the loan closing. According to the company, tenants include anchor CVS and Le Poisson Rouge, leaving roughly 21% vacancy targeted for leasing and repositioning.

How will Acram Group use the $19.5 million loan from Waterfall (RC)?

Acram Group will use proceeds to reposition its portion of the building and fund leasing incentives. According to the company, the capital supports renovation and strategic leasing to pursue full occupancy.

Why is the location at 156–168 Bleecker Street significant for this Waterfall loan (RC)?

The site is a blockfront retail condominium in Manhattan's Greenwich Village, a high-traffic corridor. According to the company, prominent frontage helps attract flagship retail and premier food and beverage tenants.

What investor impact does Waterfall's $19.5 million loan origination (RC) signal?

The transaction signals continued activity in Waterfall's commercial lending platform and borrower relationships. According to the company, it demonstrates a tailored financing capability and ongoing support for Acram Group's growth plans.